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Federal Court Ruling on Mortgage Giants Likely to Slow Revamp
Bloomberg, Feb. 23, 2017–Joe Light
U.S. Treasury Secretary Steven Mnuchin’s seriousness about overhauling the nation’s $10 trillion mortgage market will soon be tested. A federal appeals court Tuesday dealt a blow to hedge funds that own Fannie Mae and Freddie Mac shares, ruling that investors weren’t entitled to billions of dollars of profits.